"Negotiations with the US on tariffs are not easy... It's hard to assure completion by the 8th"

Trade·Diplomacy & Security

"There’s no clear summary of what each side wants"

An additional 15%P tariff if negotiations go past the 8th

"Searching for topics to ensure mutually beneficial results

We’ll do our best"

Companies also pledge to 'expand export markets'

"World leaders meet frequently to broaden the foundation"

Asked about Japan: "There are historical issues,

but we should reduce misunderstandings and cooperate where it’s needed"

President Lee Jae-myung said in his first press conference after taking office on the 3rd, "It is clear that tariff negotiations with the United States are very difficult," and added, "It’s hard to say for sure if (the deadline for the suspension of reciprocal tariffs) can be met by the 8th." President Lee also mentioned that he would frequently meet with other world leaders to expand opportunities for Korean companies.

At the press conference held at the Blue House State Guest House, President Lee revealed, "Discussing (negotiations) itself can influence the negotiation process, so I thought hard about how to answer about the tariff negotiations," adding, "We must create mutually beneficial results that help both sides, but both parties have yet to clearly define what each wants." He continued, "We have been working to identify as many topics (related to tariff negotiations) as possible from all angles," and said, "All I can tell you is that I will do my best."

The Donald Trump administration in the United States announced its plan to impose a 25% reciprocal tariff on South Korea, and has already been applying a 10% tariff since April 4. If the grace period ends on the 8th of this month, an additional 15% point tariff will be imposed. This means that from the 9th onward, products exported from Korea to the United States could face a 25% tariff. In diplomatic circles, there is opinion that the leaders of both countries must untangle the issue of tariff negotiations, but the date for a Korea-US summit has yet to be set.

Apart from tariff negotiations, President Lee pledged to broaden the scope of summit diplomacy. He stated, "Whether it’s Korea-US, Korea-Japan, or Korea-China summits, whenever there is an opportunity, I plan to meet with other leaders frequently and in various ways." President Lee said, "It is no exaggeration to say that Korea’s economic growth has relied on trade and international transactions," and added, "Currently, difficulties arise because the (export) market is biased. We must diversify the market, so diplomatic capabilities are extremely important." He went on to say, "If we expand the diplomatic base, it will greatly help our companies’ products, services, and cultural industries to advance overseas."

Regarding the 60th anniversary of diplomatic relations with Japan, President Lee remarked, "Japan is both a close and distant neighbor, sharing the same front yard—an inseparable relationship," and added, "We are exposed to North Korea’s nuclear and missile threats and have military interests in common as we maintain a special alliance with the United States. There is also room for economic cooperation." However, he pointed out, "On the other hand, historical issues have not been resolved, and we both suffer because of these issues," emphasizing, "Despite such sources of conflict, there is no need to mix the two."

President Lee further stated, "I fully agree that, like the Kim Dae-jung–Keizō Obuchi Declaration, clearly defining Korea-Japan relations would be desirable, and I will continue making efforts in this regard."

President Lee said he would continue shuttle diplomacy, referring to mutual summit visits. He said, "I hope to frequently travel (between Korea and Japan), reduce misunderstandings, and cooperate where necessary." Regarding President Lee’s remarks, the Japanese Nihon Keizai Shimbun evaluated them as "displaying intent for a new declaration to replace the Kim Dae-jung–Keizō Obuchi Declaration."

Reporter Kim Hyung-kyu / Tokyo = Correspondent Kim Il-kyu khk@hankyung.com